Nigerians Speak On Moral Burden Of New CBN Cybersecurity Transaction Tax

 Chukwudi Iwuchukwu wrote

The CBN today directed Nigerian banks to charge a 0.5% cybersecurity levy on electronic transfers.

CBN intends to implement this directive within the next two weeks.

This means that for any transfer you make with your bank app, your bank will collect a 0.5% cyber security levy, and the money will go straight to the national security adviser's office.

For my wealthy married male friends that keep side chicks, each time you send 1 million naira to your side chick for her rent, you will contribute 5000 naira to Nuhu Ribadu's national security adviser's account.

For every 100k you send to your babe for her weekend hair, you just dashed Nuhu Ribadu 500 naira per transaction for a money that he did not work for. 

The irony is that Nuhu Ribadu won’t account for Nigerians how he spends the money we are donating to his office for free ooo. 

Nigerians are already going through a lot, and we are overwhelmed.

We are tired.

We are exhausted. 

Today, I bought fuel for 1,000 per litre. 

Food inflation is out of the roof, and Nigerians are struggling to survive. 

The naira in my bank account is, more or less, worthless, but the government wants to collect more money from beleaguered, overwhelmed citizens. 

Why is the government punishing us this way?

What is our offence?

Ademola H Adigun wrote:

I have no problems with tax. I accept that death and tax are inevitable. But the simple rule of tax is that “if you take, you must give”. 

BAT”s leadership seems only about taking. We have got nothing in return thus far. Yes, the cybersecurity law was passed 2015, but why implement now?

The economy is depressed. We are now 4th in Africa from being first. An average household is burdened with levies and taxes. To pay adequate wages, they can’t. Despite subsidy removal that I support, we still queue for fuel and buy black market. Despite the tariff increase, we still use Gen sets for long hours…

All we seem to get is the pain. Nothing more. It’s hard to be alive here. Very hard.

In the midst of all these hardships , we refuse to curtail waste. With myriads of roads not motor-able, we spend trillions on waste. A country that had borrowed $6b shouldn’t be entertaining waste like we are.

Please don’t bring politics here. The elections are long done. We can start the debate of legitimacy and “we told you so” but what does that change in the pain we all feel? 

Iya yi po!!!  Gbogbo wa lokan.

Source: Chukwudi Iwuchukwu


Chris Kehinde Nwandu is the Editor In Chief of CKNNEWS || He is a Law graduate and an Alumnus of Lagos State University, Lead City University Ibadan and Nigerian Institute Of Journalism || With over 2 decades practice in Journalism, PR and Advertising, he is a member of several Professional bodies within and outside Nigeria || Member: Institute Of Chartered Arbitrators ( UK ) || Member : Institute of Chartered Mediators And Conciliation || Member : Nigerian Institute Of Public Relations || Member : Advertising Practitioners Council of Nigeria || Fellow : Institute of Personality Development And Customer Relationship Management || Member and Chairman Board Of Trustees: Guild Of Professional Bloggers of Nigeria

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